Former ADOR CEO Min Hee-jin to seek reinstatement in court on Oct. 11

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Former ADOR CEO Min Hee-jin to seek reinstatement in court on Oct. 11

Published: 04 Oct. 2024, 11:45

Min Hee-jin [JOONGANG ILBO]

Min Hee-jin, former CEO of ADOR, will face a court hearing on Oct. 11 regarding her request to be reinstated as CEO.

The 50th civil division of the Seoul Central District Court will hold a hearing on the injunction lawsuit filed by former CEO Min Hee-jin against HYBE, according to local media on Wednesday.

Min filed an injunction at the Seoul Central District Court on Sept. 13, requesting the convocation of an extraordinary shareholders' meeting for ADOR and her reinstatement as CEO. She argued that her dismissal as CEO violates the shareholder agreement with HYBE and contradicts the court's decision to prohibit the exercise of voting rights.

Min's three-year term as CEO at ADOR was set to expire on Nov. 2.

Meanwhile, HYBE countered that Min's dismissal was unrelated to the shareholder agreement and claimed that the agreement between HYBE and Min had already been terminated.

As attention focuses on the court's decision, the presiding judge had previously granted Min's request for an injunction to prohibit HYBE from exercising voting rights to dismiss her as CEO in May.

The court stated, "It is clear that Min Hee-jin sought to independently control ADOR," but added, "It is difficult to conclude that she went beyond the exploratory stage and engaged in specific acts of execution, nor can it be said that she committed breach of trust against ADOR."

BY YOON SEUNG-JIN [yoon.seungjin@joongang.co.kr]